{"id":42575,"date":"2022-09-26T14:29:58","date_gmt":"2022-09-26T18:29:58","guid":{"rendered":"https:\/\/ilgfinancial.com\/staging\/2370\/?p=42575"},"modified":"2022-09-26T14:29:58","modified_gmt":"2022-09-26T18:29:58","slug":"medicare-open-enrollment-is-around-the-corner","status":"publish","type":"post","link":"https:\/\/ilgfinancial.com\/staging\/2370\/medicare-open-enrollment-is-around-the-corner\/","title":{"rendered":"Medicare Open Enrollment is Around the Corner!"},"content":{"rendered":"<p><img decoding=\"async\" class=\"wp-image-42576 alignright\" src=\"https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-1024x685.jpg\" alt=\"\" width=\"503\" height=\"337\" srcset=\"https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-200x134.jpg 200w, https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-300x201.jpg 300w, https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-400x267.jpg 400w, https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-600x401.jpg 600w, https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-768x513.jpg 768w, https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-800x535.jpg 800w, https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05-1024x685.jpg 1024w, https:\/\/ilgfinancial.com\/staging\/2370\/wp-content\/uploads\/2022\/09\/October-05.jpg 1068w\" sizes=\"(max-width: 503px) 100vw, 503px\" \/>With all this market volatility and inflation, talk about investment strategies and portfolio longevity seems to dominate the retirement planning airways. But one of the most important aspects of retirement is often overlooked: Medicare.<\/p>\n<p>Medicare is a crucial service that can provide the support you need to take care of your health in retirement. Without factoring in your healthcare costs and looking for cost-saving solutions to cover them, you could be spending more than you should for basic healthcare needs.<\/p>\n<p>For Americans 65 and older,\u00a0Medicare should be front and center in the conversation of healthcare coverage because it drastically reduces its cost. Staying healthy for as long as possible by eating healthy and exercising well is doable, but it\u2019s a fact of life that we will need to take more care of our health as we age. So, because you\u2019re eligible for Medicare coverage at age 65, health insurance becomes much more affordable.<\/p>\n<p>Medicare open enrollment for 2022 is October 15 through December 7. So, make sure you have a plan to factor in Medicare to your retirement plan.<\/p>\n<p>When you retire, it\u2019s important to understand how Medicare works and how you can get the best coverage for your unique needs in the most cost-effective way.\u00a0Many retirees wonder how to determine\u00a0whether they need all four parts of Medicare.<\/p>\n<p>Questions about Medicare costs, supplemental insurances, and enrollment periods often arise as well.<\/p>\n<ul>\n<li>Usually, open enrollment usually lasts roughly seven months and starts 3 months before the month of your sixty-fifth birthday.<\/li>\n<li>Medigap insurance is provided by private insurance companies and can help pay for expenses not covered under Medicare. However, Medigap insurance is not allowed for those with a Medicare Advantage Plan.<\/li>\n<li>Medicare often varies in cost based on which parts you enroll in. There are 4 parts you can enroll in for Medicare \u00ad\u2013 Part A, Part B, Part C, and Part D \u2013 each of which provides coverage for different types of healthcare.\n<ul>\n<li>In general, Part A provides hospital and long-term care coverage.<\/li>\n<li>Part B provides coverage for necessary care such as doctor visits and preventative care services as well as physician services and some drug prescription coverage.<\/li>\n<li>Part C is Medicare Advantage coverage which is sold by private insurance companies for areas not covered by part A or part B Medicare.<\/li>\n<li>And Part D is for prescription drug coverage.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>It\u2019s important to know that there is no action needed for you to enroll in the Medicare program. If you have a Social Security number, you will automatically be enrolled when you reach the eligibility dates. No matter which parts of Medicare you might need, it\u2019s important to figure out how you\u2019ll utilize Medicare in your overall retirement plan. But figuring that out is easier said than done. Look at your plan for healthcare coverage in retirement and make sure it works to meet your goals.<\/p>\n<p><strong>Learn More:<\/strong><\/p>\n<p>Medicare is a key part of reducing your costs of living in retirement and making sure you live a happy and healthy life in your golden years. But Medicare can be complex, so if you\u2019re wondering how Medicare can factor into your overall retirement plan, contact us at <a href=\"tel:540-720-5656\">(540) 720-5656<\/a>.<\/p>\n<hr \/>\n<ul>\n<li>Source: Retire Guide<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>With all this market volatility and inflation, talk about investment strategies and portfolio longevity seems to dominate the retirement planning airways. But one of the most important aspects of retirement is often overlooked: Medicare. Medicare is a crucial service that can provide the support you need to take care of your health in retirement. Without factoring in your healthcare costs and looking for cost-saving solutions to cover them, you could be spending more than you should for basic healthcare needs. For Americans 65 and older,\u00a0Medicare should be front and center in the conversation of healthcare coverage because it drastically reduces its cost. Staying healthy for as long as possible by eating healthy and exercising well is doable, but it\u2019s a fact of life that we will need to take more  [&#8230;]<\/p>\n","protected":false},"author":48,"featured_media":42576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[3271],"tags":[],"class_list":["post-42575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-medicare"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Medicare Open Enrollment is Around the Corner! - ILG Financial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ilgfinancial.com\/medicare-open-enrollment-is-around-the-corner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Medicare Open Enrollment is Around the Corner! - ILG Financial\" \/>\n<meta property=\"og:description\" content=\"With all this market volatility and inflation, talk about investment strategies and portfolio longevity seems to dominate the retirement planning airways. But one of the most important aspects of retirement is often overlooked: Medicare. Medicare is a crucial service that can provide the support you need to take care of your health in retirement. Without factoring in your healthcare costs and looking for cost-saving solutions to cover them, you could be spending more than you should for basic healthcare needs. For Americans 65 and older,\u00a0Medicare should be front and center in the conversation of healthcare coverage because it drastically reduces its cost. 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